However, it's likely the statue will become a compulsory stop and picture opportunity for travelling British and Irish Lions fans next year and also New Zealand rugby supporters. It will be unveiled in time for the Lions tour in June next year.
New Zealand Rugby chairman Brent Impey welcomed the commissioning of the statue.
"This project is a fantastic idea and a great way for Te Kuiti to celebrate one of their own," said Impey.
"It goes without saying that Sir Colin is one of New Zealand's special treasures - both as an All Black, but also as a great example of what it means to be a New Zealander.
"What we love about Sir Colin is that despite the international recognition and praise heaped on him, he just considers himself to be a guy from Te Kuiti.
"One might suspect that he'll be none pleased about this fuss, but even he will have to admit the statue will be a great attraction for tourists coming over for the British and Irish Lions tour next year, and that's got to be great for Te Kuiti."
Waitomo mayor Brian Hanna, who has been a driving force behind getting the statue project off the ground, is delighted the man known around the rugby world as "Pinetree" will soon be immortalised.
"This will be a fantastic tribute to our most famous legend.
"It is great New Zealand Rugby is right behind this opportunity to pay homage to Sir Colin, in the rightful place - his hometown," he said.
"A statue of Sir Colin is well overdue."
It will be made by Natalie Stamilla, the Auckland artist responsible for the statue of Jones scoring the first try in the opening game of the inaugural Rugby World Cup in 1987, which has pride of place outside Eden Park.
"I'm thrilled to have been asked to create a sculpture of the Player of the Century, Sir Colin," she said.
"The committee working on this has come up with a magnificent way to honour one of rugby's real legends and I'm excited to be a part of it.
"It will preserve his legacy for many generations to come."
The sculpture, which will depict Meads at the pinnacle of his All Black career, is 150% greater than life-size and will weigh close to a tonne.
The project team is seeking additional funding for the statue.
Project manager Yvette Ronaldson said: "This statue is costing a significant amount and we are appealing to the New Zealand public to help us fund it.
"It's the Kiwi way for communities to get behind these types of projects and this is certainly one of the special ones, significant for many New Zealanders.
"Not only is Sir Colin iconic in terms of rugby, he has given so much to the Te Kuiti community and the country for many years.
"His support of a huge variety of charities alone is immeasurable.
"We believe it is now time for us as a town and a country, to pay homage to him, to thank him."
An exhibition of memorabilia from the Meads brothers - Colin and Stan - will be opened to the public at the same time the sculpture is unveiled.
"Our goal is to turn this project into a major attraction for Te Kuiti, and our wider district alike," said Hanna.
"The significant tourist numbers expected for the Lions tour - 20,000 plus with the vast majority to be based in the North Island - is the perfect opportunity to open the Meads exhibition to not only New Zealanders but the rugby world.
"It is also great to have the support of the wider Meads family, who are pleased to share the amazing collection of rugby memorabilia collected over many years with the New Zealand and international public."
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